Circle Secures NYDFS Trust Charter for Circle New York Trust Amid Regulatory Milestones

Circle Internet Group (NYSE: CRCL) has secured a limited-purpose trust charter from the New York Department of Financial Services (NYDFS) for Circle New York Trust.

The approval, announced on July 31, finalizes a dual regulatory structure that pairs state-level USDC issuance oversight with the federal custody powers Circle won from the OCC earlier this month.

Circle CEO Jeremy Allaire described the approval as a 'longstanding objective' for the company. NYDFS is an international standard-setter for digital asset regulation.

Allaire said the charter positions USDC within a 'strong, respected framework as digital dollars become central to the global financial system.'